Tariff Rate Quota

FEATURED ARTICLES ABOUT TARIFF RATE QUOTA - PAGE 3

While the government has taken the approval of the House to impose up to 20% export duty on steel, it has imposed variable duty at the rate of 15%, 10% and 5% depending on value addition and the consumption of products in the domestic market. Besides, basic customs duty on hot-rolled coils and cold-rolled coils has been reduced from 5% to nil. Imports of inputs like zinc, ferro alloys and met coke, used in the production of steel, have also been exempted from customs duty.

MELBOURNE: Chinese demand for Australian sorghum has slowed so far this season, bulk grain handler Graincorp Ltd said, raising concerns that Beijing may plan to implement a tariff to limit soaring import volumes. Chinese sorghum imports are expected to fall as much as 30 per cent in 2015/16, with buyers reluctant to place fresh orders amid speculation Beijing may cut the domestic corn price, lowering the incentive to buy sorghum. GrainCorp CEO Mark Palmquist said he was also concerned at the potential for Chinese regulatory restrictions.

NEW DELHI: Government's decision to cut customs duty on skimmed milk powder would not result in higher imports as the country is having surplus milk production, industry representatives said. In order to ensure adequate availability of milk in summer months, Finance Minister P Chidambaram announced reduction in basic customs duty on skimmed milk powder (SMP) from 15 per cent to five per cent for a tariff rate quota of 10,000 tonne per annum. Indian Dairy Association President N R Bhasin said: "It will only have a psychological impact on domestic market as India does not import any substantial quantity of SMP".

NEW DELHI: Roadblocks in the way of ASEAN-India Free Trade Agreement appear to have been removed following prime minister Manmohan Singh's intervention on the crucial issue of sensitive farm products like pepper, rubber, palm oil, coffee and tea. A meeting, convened for this purpose here today by the prime minister, was attended by commerce minister Kamal Nath and agriculture minister Sharad Pawar. Both the Ministries have been asked to hold consultations on Tariff Rate Quota (TRQ)

DHAKA: Bangladesh may sign a pact with India to export ready made garments to its giant neighbour and take advantage of New Delhi's zero-duty offer for poorer SAARC nations, a news report has said. The caretaker government is seriously considering India's proposal to sign a memorandum of understanding (MoU) for duty-free import of eight million pieces of ready made garments annually from Dhaka apart from New Delhi's zero-duty offer for poorer SAARC nations, including Bangladesh.

NEW DELHI: Ahead of crucial WTO ministerial meeting in Bali this week, India today made it very clear that it will be firm on the core agenda of food security while pursuing a "persuasive and constructive" dialogue. The Ninth WTO Ministerial Conference will be held in Bali, Indonesia, from December 3 to 6. A day after Commerce Minister Anand Sharma asserted that India will secure and protect its right to food security and strive for a permanent immunity from any kind of farm subsidy breach, he is likely to unequivocally convey to his interlocutors that India's concerns on food security are non- negotiable.

NEW DELHI: The government has nominated the Exim Facilitation Committee (EFC) of the Directorate General of Foreign Trade (DGFT) to distribute import entitlements under tariff rate quota (TRQ) for import of corn, infant milk food, skimmed milk powder and certain edible oils at concessional duty. The government will not entertain requests for import entitlement for 2004-05 under TRQ after June 2004 imports should be completed by March 31, 2005, according to senior government officials.

NEW DELHI: The government on Tuesday said in the Lok Sabha that there was no option but to import edible oil to meet the demand-supply gap in the domestic market. "It is not that we are very happy to import these items. But the fact is that eating habits are changing, leading to increase in demand. "Production is also going up, but still there is gap and to meet that we have to import," agriculture minister Sharad Pawar said during the Question Hour. Gurudas Dasgupta (CPI)

NEW DELHI: There are few takers in the sugar industry for the government's radical proposal for keeping tabs on fluctuating sugar prices. The finance ministry has come up with a tariff rate quota (TRQ) proposal for sugar imports meant to minimise price and other fluctuations in the industry apart from promoting quality investment in the sector. The government also feels the proposal will bring in competition in 'measured doses' and would not "adversely affect the farmer's interest when there is a glut in the international sugar market.

NEW DELHI: The 10% reduction in duty on skimmed milk powder imported under the tariff rate quota route may have marginal impact on easing retail milk prices in the local market. The import duty on skimmed milk powder (SMP) is 60%. But under the TRQ agreed by India during WTO, 10,000 tonne of SMP can be imported at a concessional duty of 15%. This duty has now been reduced to 5%. "Imports under the TRQ are undertaken mainly by cooperative milk companies such as Amul. If they wish, they can now import SMP at 5%. But private players will not gain since they will continue to be charged 60% duty," said Kuldeep Saluja of Sterling Agro, India's top exporter of SMP. In summer, milk output falls to nearly half the levels of the 'flush' winter months.